Once AIG goes, its really over!By Hugh SonSept. 16 (Bloomberg) -- American International Group Inc.'s credit ratings were downgraded by Standard & Poor's and Moody's Investors Service, threatening efforts to raise emergency funds to keep the company afloat. The ratings reductions occurred after two people familiar with the situation said that the biggest U.S. insurer by assets is seeking $70 billion to $75 billion in loans arranged by Goldman Sachs Group Inc. and JPMorgan Chase & Co. to replenish capital. AIG Chief Executive Officer Robert Willumstad has tried to raise cash to prevent the cuts, which may trigger more than $13 billion in collateral calls from debt investors who bought swaps, the insurer said in an Aug. 6 filing. AIG's shares plunged 61 percent yesterday in New York trading, dragging the company's market value to $12.8 billion. Wall[More...]